The Global Safety I / O Modules Market is valued at USD XX. XX billion in 2016 and is expected to reach a value of USD XX. XX billion by the end of 2022, growing at a projected CAGR of XX. XX % during the forecast period of 2017 – 2022. The new Safety Input-Output( I / O) Modules offer all the advantages of the traditional distributed I / O safety systems. With the help of these new modules, it is easier to control and monitor safety devices. Additionally, it detects failure at I / O levels and at the field device levels, along with enhancing the operator protection. The current global market for Safety I / O Modules is expected to grow in Asia-Pacific, Europe, Latin America and Middle Eastern regions. A major share of contribution to the growth of this particular market is through various technological advancements.
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The Global Safety I / O Modules Market is broadly segmented based on types, end-users and regions. Based on the types, the market is segmented into Analog Module( I / O), Digital Module( I / O), Network Adaptor, Power Supply & Chassis, and Intelligent I / O. Similarly, with regard to its end-users, its applications can be explained under segments such as Automotive, Energy & Power, Manufacturing, Healthcare, Transportation and others. Some of the key market players mentioned in the report are Rockwell Automation, Bihl + Wiedemann GmbH, Siemens, ABB, Schneider Electric, among others.
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Drivers: The key factors contributing to the growth of Global Safety I / O Modules are the demand for intrinsically safe I / O modules, compulsory industrial or government safety standards, miniaturization of devices, and the demand for reduced wiring cost as well as reduced start-up machine time.
Challenges: Lack of product awareness and complex industry standards are the key challenges for the Global Safety I / O Modules Market.
What the report offers: 1. Market definition for the global Safety I or O Modules market, along with identification of key drivers and restraints.
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